National Insurance Increase

Following on from the speculation over the last few days the government has announced a 1.25% percentage point rise in National Insurance from 22/23.

There will also be a 1.25% tax increase on share dividends.

From 23/24 tax year the National Insurance increase will become a separate levy and the National Insurance rates will revert to the current level.

Currently employees National Insurance is 12% and employers is 13.8%. To help explain how National Insurance is calculated based on the current rates we have two separate blog posts,

How Is National Insurance Calculated? Part 1: Employees NI

How Is National Insurance Calculated? Part 2: Employers NI